In today's society, individuals often worry about their financial health, but often lose touch with their current financial health status. Individuals also lose sight of upcoming events such as payment due dates. In order to stay informed, many individuals rely on their financial service providers' notification systems.
Some financial service providers allow customers to set up notifications and reminders for payment due dates, fraudulent account activity, spending goals/limits, account overdrafts, and other events warranting special attention. Typical notification systems provide the notifications and reminders in the form of text messages, emails, and social media notifications. Similar to junk mail and advertisements, many of these notifications or reminders go unnoticed or soon become a nuisance to the customer and, thus, get ignored. On the other hand, a lack of any notification or reminder leaves individuals in the dark about their financial situation, and places the burden on the individuals to proactively monitor their account statuses. Manual account monitoring usually requires the individual to navigate to a website or mobile application (app) and enter authentication credentials just to ascertain whether their account status is normal or abnormal.
Thus, a notification system is desired that provides constant, yet passive, account status indications in order to effectively and efficiently inform individuals of their financial situations.